Gov't, KBW sign LED street lighting contract

AMMAN — The Ministry of Energy and Mineral Resources on Wednesday signed the final contract with Khaled Bin Alwaleed Investment Group (KBW Investments) to implement a project for street lighting and to establish a factory to manufacture lighting units using LED technology.

Energy Minister Ibrahim Saif and Saudi Prince Khaled Bin Alwaleed Bin Talal, who is the founder and owner of KBW Investments, signed the deal at a ceremony attended by Prime Minister Hani Mulki.

The contract entails replacing 100,000 lighting units in the Kingdom's streets, saving between 50 per cent to 70 per cent of energy consumption, the Jordan News Agency, Petra, reported. The factory will be in partnership with the state-owned Cities and Villages Development Bank and the King Abdullah II Design and Development Bureau.